Shanghai Rebar Climbs after Tangshan’s Emergency Output Limits

Prices of steel rebar rose on Friday, posting the best week since mid-August as tougher production restrictions in the country’s top steelmaking hub raised concerns about short supplies. Tangshan city on Thursday ordered mills to cut output by half from Oct. 11-18 due to forecasts of adverse weather, according to a city government document. The
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China’s Dalian coke futures jumped more than 4 percent on Wednesday as investors worried about tighter supplies after the major coal mining province of Shanxi vowed to reduce annual coke output. The northwestern province on Tuesday pledged to cut coking capacity and coke production, as part of its long-term campaign against air pollution. Coke producers
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China’s crude oil output edged up 0.9 percent year on year in August, data from the National Development and Reform Commission showed. Crude oil output came in at 16.1 million tonnes during the period, which saw 48.9 million tonnes of crude refined, up 0.4 percent year on year. China is one of the world’s largest
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China’s steel output eased in August after hitting a record-high in July, crimped by tough production restrictions in major steelmaking regions as part of efforts to clear the country’s smoggy skies. The world’s biggest steel maker churned out 80.33 million tonnes of crude steel last month, according to data from the National Bureau of Statistics
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An OPEC and non-OPEC technical committee will next week discuss proposals for sharing out an oil-output increase, sources familiar with the matter said, a tense topic for the producer group after it decided in June to ease supply curbs. A panel called the Joint Technical Committee will on Tuesday consider proposals on distributing the agreed
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Russian oil output in September will remain at the same level as it was in July and August, TASS news agency cited Russian Energy Minister Alexander Novak as saying on Monday. Oil output stood at 11.21 million barrels per day (bpd) in August, virtually unchanged from July and near a post-Soviet high as production curbs
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Russia kept pumping oil near post-Soviet records last month as it reaped benefits from a deal with OPEC easing output caps and record-high oil prices in rubles. The nation extracted an average of 11.21 million barrels of crude per day in August, according to data emailed Sunday by the Russian Energy Ministry’s CDU-TEK unit. Volumes
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OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, a Reuters survey found, although a cut in Iranian shipments due to U.S. sanctions limited the increase. The 15-member Organization of the Petroleum Exporting Countries has pumped 32.79 million barrels per day in
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Growth in China’s booming steel industry slowed in August, with output levelling off despite a sharp rebound in export orders, industry data showed on Friday. China’s steel purchasing managers’ index, or PMI, fell to 53.4 in August from 54.8 in July, according to index compiler CFLP Steel Logistics Professional Committee. Levels above 50 indicate expansion
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Shanghai rebar steel futures dropped nearly 1 percent on Tuesday to fall for a fifth session after last week’s push to a seven-year high, but losses were limited by China’s efforts to curb output as part of its battle against pollution. The absence of any breakthrough between the United States and China following talks last
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